Nutrien Ltd. (NTR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to Nutrien's 2025 fourth quarter earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded. I would now like to turn the conference call... Thank you, Operator. Good morning and welcome to Nutrien's fourth quarter 2025 earnings call. As we conduct this call, various statements that we make about future expectations, plans, and prospects contain forward-looking information. Certain assumptions were applied in making these conclusions and forecasts. Therefore, actual results could differ materially from those contained in our forward-looking information. Additional information about these factors and assumptions is contained in our quarterly report to shareholders, as well as our most recent annual report, MD&A, and annual information form. I'll now turn the call over to Ken Seitz, Nutrients President and CEO, and Mark Thompson, our CFO, for opening comments. Good morning, and thank you for joining us today to review Nutrients 2025 results and the outlook for the year ahead. At our investor day in 2024, we outlined an ambitious three-year plan with clear performance targets that included increasing upstream fertilizer sales volumes, growing downstream retail earnings, reducing operating costs, and optimizing capital expenditures. Our results reflect the strong execution of this plan, contributing to higher earnings and free cash flow, lower net debt, and increased cash return to shareholders. In 2025, we generated adjusted... We delivered a record set... fertilizer sales volumes of 27.5 million tons, utilizing the strengths of our end-to-end supply chain to efficiently serve our customers. We raised our potash sal...